Back to School Offer

Get 20% of Your First Order amount back in Reward Credits!

Get 20% of Your First Orderback in Rewards

All papers examples
Get a Free E-Book! ($50 Value)
HIRE A WRITER!
Paper Types
Disciplines
Get a Free E-Book! ($50 Value)

Competition and Pricing Strategy, Research Paper Example

Pages: 1

Words: 295

Research Paper

How does an organization’s competition affect its pricing strategy?

Within organizations, there are two different approaches to pricing; Demand-Based Pricing and Competition-Based Pricing. The below research would review competition-based pricing as a marketing approach for organizations. In this case, products would be similar to competition’s (equivalent), therefore, the pricing strategy would be based on the research of the market price throughout the competition. Competition-based pricing would help the organization increase sales and the share of the market at the same time, in case of homogeneous products. (Pride and Ferrell, 2012)

When applying a pricing strategy, various aspects need to be considered for making a decision. In case of a cooperative pricing, the coordination between competitors (Walker, 2003) can potentially increase profits throughout the market. Cooperative pricing can work between rivals on a market, in order to maintain relatively higher prices on competitive markets. Compared to pricing rivalry, when organizations focus on providing lower cost services or products to customers than other firms, this can be a profitable method. While rivalry can become destructive, if the costs of production and services are not assessed carefully, the cooperative approach would somewhat disadvantage customers, setting the prices higher than necessary.

One of the major industry forces influencing the profitability of the organization is competition. As there is no perfect competition in any industry, the approach to reduce the prices to marginal costs in order to compete with other players on the marketplace is the most common in highly competitive markets. However, the first organization developing an innovative price structure might be the winner of the competition; that is the reason why decision-making on a strategic organizational level in time is essential, as well as planning.

References

Walker, G. (2003) Modern Competitive Strategy. McGraw-Hill International.

Pride, W., Ferrell (2012) Foundations of Marketing. Cengage Learning.

Time is precious

Time is precious

don’t waste it!

Get instant essay
writing help!
Get instant essay writing help!
Plagiarism-free guarantee

Plagiarism-free
guarantee

Privacy guarantee

Privacy
guarantee

Secure checkout

Secure
checkout

Money back guarantee

Money back
guarantee

Related Research Paper Samples & Examples

The Effects of Spirituality and Grit Among Adults Aged 30 and Above

Abstract Spirituality and grit are two essential concepts in human life. A person’s religious or spiritual beliefs come from their components of culture, attitudes, and [...]

Pages: 9

Words: 2547

Research Paper

Media Account Analysis: National Geographic, Research Paper Example

National Geographic is an established Instagram account with over 241 million followers. In all its posts, National Geographic focuses on oceans, land, wildlife, human ingenuity, [...]

Pages: 2

Words: 567

Research Paper

Health Reasons for Abortion, Research Paper Example

Abortion remains one of the most controversial subjects in the world, as some people support that it should be freedom while others believe it is [...]

Pages: 3

Words: 720

Research Paper

Indigenous Caribbean Art, Research Paper Example

Introduction The portrayal of cultural characteristics that are important to the populations that are native to that location is a common feature of the indigenous [...]

Pages: 9

Words: 2341

Research Paper

Jean Lamarr, Research Paper Example

Introduction Different cultures have different ways of fostering creativity and imagination. However, since people might be impacted by values and norms from different cultures, artists [...]

Pages: 5

Words: 1511

Research Paper

The Oppression of Indigenous People in Layli Long Soldier’s Whereas, Research Paper Example

Introduction Colonization perpetrated the oppression of indigenous communities. Also, the struggle against cultural imperialism lay at the heart of oppression as the culture of native [...]

Pages: 7

Words: 2029

Research Paper

The Effects of Spirituality and Grit Among Adults Aged 30 and Above

Abstract Spirituality and grit are two essential concepts in human life. A person’s religious or spiritual beliefs come from their components of culture, attitudes, and [...]

Pages: 9

Words: 2547

Research Paper

Media Account Analysis: National Geographic, Research Paper Example

National Geographic is an established Instagram account with over 241 million followers. In all its posts, National Geographic focuses on oceans, land, wildlife, human ingenuity, [...]

Pages: 2

Words: 567

Research Paper

Health Reasons for Abortion, Research Paper Example

Abortion remains one of the most controversial subjects in the world, as some people support that it should be freedom while others believe it is [...]

Pages: 3

Words: 720

Research Paper

Indigenous Caribbean Art, Research Paper Example

Introduction The portrayal of cultural characteristics that are important to the populations that are native to that location is a common feature of the indigenous [...]

Pages: 9

Words: 2341

Research Paper

Jean Lamarr, Research Paper Example

Introduction Different cultures have different ways of fostering creativity and imagination. However, since people might be impacted by values and norms from different cultures, artists [...]

Pages: 5

Words: 1511

Research Paper

The Oppression of Indigenous People in Layli Long Soldier’s Whereas, Research Paper Example

Introduction Colonization perpetrated the oppression of indigenous communities. Also, the struggle against cultural imperialism lay at the heart of oppression as the culture of native [...]

Pages: 7

Words: 2029

Research Paper

Get a Free E-Book ($50 in value)

Get a Free E-Book

How To Write The Best Essay Ever!

How To Write The Best Essay Ever!